Next Gen PSF - Blog/News
The role of incubator and accelerator programmes in developing next generation professional services.
Business incubation has become central to the development and implementation of next generation technology. Whilst the benefits of incubation have been well-established in other sectors and are vital parts of the entrepreneurial ecosystem, the integration of incubation and accelerator programmes within professional services such as law and accountancy is embryonic. As part of the UKRI Next Generation Services project, we are addressing how the nature of incubation within professional services is driving innovation and consider how this business process is viewed both by incubators and start-up firms.
A webinar featuring incubators and accelerator programmes from across Asia, Europe and North America has explored this issue. Incubators range from government sponsored programmes, in-house corporate accelerators and legal sector-specific initiatives. The webinar discussion identifies the necessity to support value-adding ideas for future technological adoption.
Accelerators and incubators themselves provide access for start-ups and small companies to influential networks of stakeholders, expert advice on business model development, and direct support for the research and development of new products and services. The drivers for incubation are individuals within professional service firms who are implementing change and innovation. The webinar hears from an incubator in Canada who have created an environment that works with consumers to develop innovative solutions, as well as incubators from Finland, Austria and Singapore who refer to the broad range of social issues and commercial challenges which incubators and accelerators can address in agile ways.
“The important thing here is that we're very focused on both people and businesses. And it's all about the consumer. So, we don't use the word clients. Consumers can be big law firms, consumers can be large corporations, or it could be individuals, and so we're really focused on all of those areas. We achieve those goals in three main ways, incubation, supporting innovation agendas and designing the 21st century justice system”
The experiences of business incubation shared on the webinar illustrates how a sustained focus on new ideas, often previously stymied due to the ‘fail fast adage’, extend far beyond brand perception or tokenistic initiatives. There are dedicated people and resources which are driving new technical solutions in the legal sector across countless jurisdictions. For incubators working with national legal infrastructures, these relationships support national efforts to promote innovation. For others, it was the challenge of reconfiguring and modernising the justice system through frontier technologies with the potential to unlock new ways of working and creating value.
“Austria is not the biggest country probably in the world. And it's usually not the most innovative in terms of legally. But in terms of legal tech, we're pretty advanced over the last five years. Austria, because it's very small country, has really tried to push the boundaries. One thing is that our justice service over the last 20/30 years has been quite innovative. So, we already work with the justice system, and there's a lot of the court digital, and we found it over the last 25 years”.
The potential for incubation in the legal landscape has been underexplored and undervalued. The participants in the webinar demonstrated that innovation champions are working to develop entrepreneurial ambition and shaping the future of the sector. As the challenge of the pandemic and new ways of working unfold, the ability to work with technology will become critical. Our research will continue to focus on these challenges and if you would like to find out more about the incubation in the legal services programme of research, please contact Professor Tim Vorley, Dr Jorge Martins, Dr Paul Taylor, or Dr Chay Brooks for further information.
Posted August 2020
Cristian Gherhes, July 2020
The Next Gen PSF project has come a long way, uncovering a range of challenges and opportunities for AI adoption in legal and accounting services and supporting numerous firms in their technology adoption journey. In this podcast, Cristian shares insights from the projects and talks about the future of AI in professional services. To hear more about the pressures and challenges of digital transformation and the implications of AI for the business models of PSFs, listen to the podcast below.
Future of the PS Firm
Martin Spring, June 2020
Something I’ve been concerned with for most of my academic career is what is known in the trade (my trade) as the boundaries of the firm. What do we do ourselves, and what do we leave to someone else? And how do we connect the one to the other? This is fascinating – I think – in many ways, not least because it is a never-ending story: various factors such as changing technology, availability of new sources of supply, and changing market demands mean that a solution to this problem that makes sense now may be crazy in five years’ time. When the Ford Motor Company began the mass production of cars, they famously did everything from growing the timber for the wheel spokes to selling the car. Now, the major auto companies focus on development, assembly, and producing a few key components, outsourcing everything else.
What’s this got to do with artificial intelligence in professional service firms? Well, one thing our research has revealed is the wide variety of ways in which engaging with AI-driven solutions potentially disrupts the boundaries of the PSF. And responding appropriately to these disruptions is critical for firm competitiveness.
Traditionally, PSFs carried out most of the work themselves, through a judicious mix of senior and junior professionals and associates. With the rise in offshoring in the early 2000s, it became increasingly attractive to outsource what economic geographer Michael Storper called ‘routinised intellectual labour’ – preparation of standard documents, document searches etc - to specialist, low-cost providers in locations such as India, or even to the lower-cost locations within the UK (so-called ‘north-shoring’ - implicitly from higher cost bases in London). Now, as AI solutions operated within the firm can potentially take over some of the routinized tasks, this work can be brought back inside the firm. The economic logic of outsourcing has changed. And this doesn’t just mean that a lower-cost solution is achieved: since every additional division of labour creates an additional need for coordination, bringing everything under one roof also allows quicker, more agile and responsive service, potentially making it possible to win business on the basis of quicker delivery, more customised service, and more direct control over quality.
The potential of AI-driven solutions to complete higher-volume, standardised tasks can alter the boundary with the customer, as well as with erstwhile subcontractors. In circumstances where the PSF is handling large numbers of similar small tasks, AI solutions can be developed not just to complete the repetitive tasks, but also to allow the client to self-serve. The professional expertise and process is embodied in the AI solution, which is sold as part of a service package. This time it is the client who has the benefit of having everything on tap under one roof. Often, this leaves the PSF able to concentrate, in its relationship with the client, on more complex, strategic, profitable and satisfying work.
The disruptive potential of AI-driven solutions on the boundaries of firms is not just a matter of slicing up the same old activities in different ways, by virtue of changing the relative costs of different arrangements as to who does what. It also entails generating entirely new activities, which arise from the analytical potential of the technology. Analysing vast numbers of documents very quickly and relatively cheaply, or conducting 100% audits rather than audits based on small samples of transactions can lead to new insights and new service offerings of an advisory nature that would be out of the question without AI. The boundaries of the PSF then contain new capabilities to offer new propositions and new sources of competitive advantage. A significant challenge here is to work out how to manage the boundary with the customer in respect of these new activities: who does what? Whom do we speak to? How do we charge for this? As ever, new boundaries create new coordination challenges.
Another aspect of the traditional view of PSFs is that they are not very capital intensive. Although we are not at the stage yet where PSFs are as capital intensive as car factories or chemical plants, the mix is changing, as information technology in general, and AI solutions in particular, play a more significant role. This means that we need to consider the boundary related to technology development and provision, as well as those associated with delivering the core professional service. A crude framing of the question is ‘make-or-buy’: ‘Do we the develop technology ourselves or buy it?’ But the reality is much more complex and nuanced. We have found that PSFs very rarely simply buy AI solutions off the shelf and use them ‘out of the box’. Since the market for such solutions is relatively immature, there often isn’t a product ‘out there’ that will simply do what the PSF needs. Instead, there are myriad start-ups and more established vendors who are often glad to work with enterprising PSFs to co-develop bespoke solutions, using the PSF’s data and experience in the provision of the core professional service to hone the AI solution to be more useful in the real world. This means that the boundary with the external firm is not a simple one based on a contract for software as a service and a payment for so many user licences, but a rich and evolving collaborative relationship, where ‘who does what’ is, to some extent, worked out as the relationship develops. And enterprising PSFs are happy to have the edge on their competitors for a couple of years due to the distinctive capabilities of the AI solution, often with the use of the AI solution provided free of charge or at a much-reduced fee, in recognition of their part in its development.
Of course, the development ‘make-or-buy’ decision is mutually dependent on the mix of skills inside the PSF. If you have no technological skills, you have to buy solutions in. But buying in even relatively mature technologies typically requires some in-house adaptation and customisation. So the modern PSF probably cannot afford to have zero technology capabilities in house. The question is rather how much, of what type, performed in which job role. Lawyers who code? Technology specialists with professional backgrounds? Technology-capable people who are business process experts? Full-on data-scientists? These questions certainly arise, but are probably best discussed in more depth on another occasion.
Posted 22nd June 2020
NextGenPSF webinar series in conjunction with the KTN: AI for Services group
Amidst the Covid-19 crisis, professional service firms have demonstrated the ability and agility to embrace digital technologies and virtual working has been unprecedented. However, can this momentum be harnessed to realise the advantage of adopting more advanced technologies?
While the priority has been in adapting to the new normal, evidence has shown that there is an increased appetite for and engagement with technology. Ensuring that firms realise and leverage the advantages effectively adopting and implementing technologies to enable and augment new ways of working can be challenging. However, where successful such technologies may represent the first steps in the wider transformation of the firm.
Navigating this process requires understanding the value of data and potential technologies, such as artificial intelligence, to the future of Professional Services Firms. AI for Services, in partnership with the Next Generation Services project team, are offering an exciting and informative lunchtime programme focused on the organisational and operational opportunities and challenges associated with becoming AI ready.
Register here to join our series of weekly webinars delivered by leading academics and professionals drawing on their experience from across the professional services. As well as sharing their own perspectives and experiences on the opportunities and challenges facing the future of professional services firms, there will be an opportunity for questions and discussion about how technology is changing the way we work, and how this will continue in a post Covid-19 world.
What to expect
Grab a drink and a sandwich and join our one-hour online Thursday webinars to hear expert insights and stimulating debate by joining the AI for Services community. Each webinar will include presentations from thought leaders, followed by an interactive Q&A session.
Posted 15th April 2019
New AI for Services Business Model Innovation Toolkit
Integral to the Next Generation Professional Service Firms project is rethinking the business model. Our new Business Model Innovation toolkit aims to support firm in thinking about innovation in the context of their business, and particularly in relation to the use of Artificial Intelligence.
While there are a multitude of business model tools available the NextGenPSF team have developed a tool specifically intended for use with professional services firms. The tool works in 2 parts. First, reflecting on the business model to understand what factors impact the successful operation of the business. Second, to explore how innovation relating to the offering, conficuration and customer esperience can add value to the business moving forward. This interavtive tool is used as part of our design sprint focused on AI readiness although can also be used to thing about wider opportunities for growth and development. If you are interested in finding out more, or want to have your firm participate in one of the sessions facilitated by the Next Generation PSF project team, contact us at firstname.lastname@example.org.
Posted 15th November 2019
Design Sprint @ Work Foundation
Chay Brooks, Cristian Gherhes, Carlo Cordasco
The first of a series of design sprints with legal services and accounting firms took place on Wednesday at the Work Foundation in London. The design sprints are structured workshops which allow the participants to engage with and explore future scenarios that involve AI in future professional services as well opportunities to rethink and innovate existing business models.
Based on a design thinking approach, the sprints are highly interactive and collaborative exercises that allow professionals working in legal services and accounting to reimagine their value propositions and increase their AI readiness. The sprints encouraged the participants to consider three scenarios that could reshape the legal services and accounting landscape by 2030 and to map out potential tools to embrace technological innovation. The aim of the sprints is to consider the barriers and opportunities to the adoption of AI in the respective sectors and to encourage proactive strategic thinking towards future horizons.
The first session at the Work Foundation involved 6 firms who engaged in workshops exploring a series of targeted topics through guided activities and group discussion. These included sessions that enabled the participants to map out and reflect on their firms’ existing business models, consider the need for, challenges and opportunities of business model innovation to support the adoption of AI-based technologies, immerse themselves into future potential scenarios involving AI and consider how these may impact or reshape their current activities, reimagine service delivery and discuss the future of professional services.
The participants had the opportunity to reflect on the design sprint activities and highlighted the key insights that they gained by participating in the workshop. These included “the tech is not a barrier but an enabler”, “we need to consider the implications of AI for our current business model and adapt”, “the main barriers to the adoption and implementation of AI solutions are cultural”, “we need to get buy in at the leadership level”, “all our barriers would be about the business model; this is what holds us back”, and “there is still a lack of understanding of what AI is and means for professional services”. Becky Shields, attending on behalf of Moore Kingston Smith, reflected on a successful first sprint: “Participating in the design sprint was a very good way of framing a problem, breaking it down and then building it back up and articulating solutions.”
The design sprints will continue in 2020 engaging with firms and professionals from the legal and accountancy sectors. If you are interested in finding out more, or want to have your firm participate in one of the sessions facilitated by the Next Generation PSF project team, contact us at email@example.com.
Posted 30th October 2019
The Future of AI in Accounting: In Conversation with Hugh Shields (ICAS)
As part of the Next Generation Professional Service Firms Project, Hilary Smyth-Allen talks to Hugh Shields, Head of AI and Technology at ICAS, about his thoughts on the future of AI in the accountancy sector and the questions that this will raise for professional services firms.
It’s early on a Friday morning, central London and I can already tell that this is going to be one of those fascinating wide-ranging conversations and that the normal allotted hour for the formal research interview probably isn’t going to cut it. A rapid exchange of text and fleeting conversations reveal that I am in the right place, but Hugh’s a bit behind due to an over-run of his morning training session in preparation for a European athletics meet next month where he is representing GB. But in the meantime, I could read Hugh’s vision paper on the accounting sector in 2050, which arrives soon after via email. Our conversation begins….
Hilary: You’re fairly new in position with ICAS, I believe. Can you tell me a bit more about you and the role?
Hugh: That’s right. In early March, ICAS launched a new agenda called Technology, Trust and Talent. I’m the lead for the technology strand within that, being announced as the new Head of AI and Technology for the institution at that launch event. This is a part-time role that I am doing alongside my primary employment as a Global Director at Huawei Technologies.
Hugh: I have a deep interest in AI generally, the technological capabilities and so forth. But fundamentally it’s about business processes. AI isn’t goal in itself unless anchored in genuine understanding of the business processes.
Let me give you a simple example from the housing association sector, where I volunteer as a Non-executive Director and a simple AI application in form of a chatbot to help address tenants’ issues, such as ”I’ve got a plumbing problem”. So they think they’re going to have a chat bot to help with the efficiency. Well the business process part of it might say have you analysed why you’re getting all these plumbing problems from this area because you get far more from this area than you do from anywhere else round the country. There’s something systematic going wrong, which — by the way — the data could tell you; structured data would be able to tell you that, so there’s a sort of a technology angle there, or there is a technology angle there. But then you could go underneath and say, oh actually there’s this dodgy plumbing firm and they’re behind all these problems, so we could go and fix all these houses now, and then you won’t get the call coming through to the chat bot at all.
Hilary: So you don’t need a chat bot then?
Hugh: That’s right; you have to understand business process, this is, because to me, I mean I'm not a technologist, but I basically now assume that anything is possible from a machine, if not necessarily today, then quite soon. My experience of working on AI project with the top AI scientists, I mean some of the very best people in the world is that every question I ask about the art of the possible is answered with “yes, we can do that”… basically anything I ask is possible in terms of technological AI capability.
So my role and benefit to these very bright technologists is to ask the right business processing questions to enable relevant and appropriate deployment of technologies. But the constraint that nearly always exists in the middle is access to the right data.
Hilary: Can you expand a bit more on what the remit of your role is with ICAS please?
Hugh: Sure. The role that I have is to help member firms adopt new technologies, perhaps AI but perhaps other things. It’s to help inform policy debate about AI, which is why your research at Sheffield University is an interesting project to engage with for this work. I have a particular angle that I'm coming from with all of this, which is the technological singularity, is basically the idea that at some point, maybe 20 years away, maybe 30 years away, but pretty close, robots can basically do every job that we can see today. I mean everything. Now, if you have that as a starting point then you start to think, gosh, what does this mean? For me as an individual, for my company I work for, for society as a whole, for mankind? Is this debate happening? I don’t think that I, at least not on all the different levels that it ought to be? Technology is moving so fast but we mustn’t miss the debate.
There are these are big questions that need addressing because in 30 years time, let’s say, you basically have a situation where robots are doing all the work, and the humans can be sitting on the beach drinking their gin and cocktail, or not, and this is the question. What do you want to do? How do you want to play it? Do you need companies? I mean if robots are doing all the work, all of it, do you need a board of directors skimming off all the profits? At some point the robots could literally be doing everything. I believe that we are capable of doing away with human accountants as we know it.
Hilary: But what about judgement? Isn’t that the bastion of the professions and humans?
Hugh: There is nothing technologically speaking, I don’t think, to stop machines doing all accounting. Right now. That’s how I see it. People say, well what about judgements? To which I respond to ask what about them? Take an example, say the complexities of what to provide for in a bank’s accounts when it receives a piece of litigation. How much should they provide for that? Yes, it’s complicated, but you could load a machine up with all the cases, all the weightings, far more evidence, far quicker and give you a much better answer than any human.
Hilary: But the weak link being the data bit again?
Hugh: Well, yes. But the point is that there’s nothing stopping us loading the machine up with the data. That can be done. What is human judgement then? Well if you ask an audit partner, what do you think this should be, they’ll likely talk through their previous experiences of it. But isn’t that the same as giving the past in the form of data to a machine and getting a better, faster, more evidenced answer to the question about the provision?
I took this role with ICAS to have exactly these debates and support the profession in adjusting to the new ways in which work can be done. Sure we don’t have the data in the right ways as yet, but that’s a temporary blip in the direction of travel which is one where technology challenges the business model entirely. I hope to be able to assist in leading our profession through this transformation as the first chartered accountancy professional body.
If you are interested in finding out more, or want to have your firm participate in one of the sessions facilitated by the Next Generation PSF project team, contact us at firstname.lastname@example.org.
Posted 19th July 2019
AI for CFOs
There is little question about the importance of Chief Finance Officers, where the responsibility for managing the financial actions of a business is as much about tomorrow as it is about today. When it comes to thinking about the role of AI in professional services firms it is therefore critical that the CFO is onboard. However, for many CFOs the reality is that there is a lack of understanding about the applications and potential of AI (and arguably technology more generally). As such, the NextGenPSF team have been contributing to a series of events with the CFO forum to raise awareness around the potential of AI and the need to embrace AI investment.
Recent research by Grant Thornton and CFO research talks about how the digital transformation journey will also require CFOs to alter their mindset when it comes to technology investments, and this represents a particular challenge for professional services firms. With the majority of firms still functioning as partnerships, there is often little incentive for partners to invest in technology when it directly impacts on their remuneration and bonus. That said there is growing recognition about the importance of not just investing in technology but getting it right.
There is a need to move beyond the often negative attitudes towards investing in AI, which is perpetuated because AI for many is still a largely unknown quantity. If, however, the question of investing in AI is addressed as a strategic concern the tone of the conversation can be fundamentally different. The decision to invest AI is more likely to overcome the inevitable return on investment question, if it either addresses a problem in the business or enables the business to realise a growth opportunity. As such the decision to invest in, and adopt, AI needs to be understood as a business model question.
Over the coming months the Next Generation PSF project team will be working with a number of legal and accounting firms to explore how they can approach the AI challenge. If you are interested in finding out more, or want to have your firm participate in one of the sessions facilitated by the Next Generation PSF project team, contact us at email@example.com
Posted 24th June 2019
Next Gen Services Project Assembly
On 14th May our NextGenPSF project team participated in an event for all funding recipients under the Next Generation Services (NGS) Industrial Strategy Challenge Fund (ICSF) priority. The gathering brought together representatives from across the academically focued research projects as well as the more appliedcollaborative research and development (CRD) projects.
In framing the day Matt Hotson (CFO UK & International, RSA Insurance Group) reflected on the transformative potential of AI to the legal, accounting and insurance sectors currently prioritised under the ISCF. As well as highlighting the technical possibilities of new technologies associated under the grand challenge of AI and the data economy, CFO flagged how questions of people and strategy as critical to future competitiveness.
Tim Vorley provided an overview of the NextGenPSF project (see the above video), alongside John Armour (University of Oxford) and Alistair Milne (Loughborough University). The presentations highligted clear links across the projects relating to the blurring of boundaries at the frontiers of the professions, as well as emphasising the importance of business models and business model innovation. Critically for the NextGenPSF project we regognised that the threat to mid-tier legal and accounting firms comes from above (i.e. the inverstment of the Big 4 and Magic Circle) as well as below (i.e. the start-ups disrupting through accounting, audit and legal-tech).
Another important outcome from the day was the emphasis on data. While frequently referred to as the new oil, it is imperative that the critical and value added of the refining process not be overlooked. Jeni Tennison (CEO, Open Data Institute) raised the importance of data as infrastructure and the need to ensure that the appropriate institutions are in place to ensure the future competitiveness of data intensive business and sectors. This challenge will be addressed directly by the NextGenPSF project.
Posted 14th May 2019
Cultural Challenges: AI in Professional services Firms
A major challenge facing the implementation of artificial intelligence into legal professional services is an inertia to embrace change. Many legal services have been dominated by business models dating back centuries where modes of practice are established and rooted in convention and norms. This has in part led to a reticence in some areas to adopt AI to complement and extend current practices.
The opportunities afforded by the careful integration of AI within legal professional services firms are manifold. For example, the automation of labour-intensive tasks that can free up individuals to concentrate on more demanding issues, assisting due diligence, and the ability to process and analyse large amounts of data. There is a plethora of technologies which have filtered into the legal profession including Kira, LitIQ and Neotalogic amongst others to help with documentation processing, legal analytics, and even to assist prediction.
The successful integration of AI carries benefits to both the competitiveness and productivity of firms as well as to the wider UK economy. The role of business model innovation in this regard is paramount to creating new efficiencies, and reimagining traditional practices to remain competitive and sustainable in the professional services landscape. Business model innovation shifts the focus from technology as the sole driver of innovation to a more nuanced approach. This approach focuses on the disruption of the configuration of business activities, and seeks to innovate throughout all aspects of how a firm is organised, engages with its clients, and shares its services.
Creating an economy that harnesses these AI technologies, coupled with big data and the digital economy, are seen as one of the great opportunities of our age, especially for early movers and innovators within key industries. Whilst issues of regulation and the future of work remain important policy considerations, it is incumbent on firms and stakeholders to ensure the future of the UK professional services sector. Through the anticipation of future scenarios and considering the business model more creatively as a dynamic facet of legal services practice, the future of AI may find a more certain home.
Posted 4th May 2019
Employment Outlook on the Future of Work
On 25th April at the Work Foundation in London, James Faulconbridge used insights from the Next Generation PSF project to contribute to a panel discussion on the OECD’s 2019 Employment Outlook report which focuses on the future of work. The report highlights the need to focus more on working with new technologies such as AI and less on the jobs that might be lost –the OECD’s research suggests it is how tasks associated with particular jobs will change that is of greatest significance. This aligns well with the initial findings of the Next Generation PSF project.
In his contribution, James focussed on the change process associated with AI adoption. He highlighted the importance of examining what it means to work with AI, and how this applies to professionals as much as lower skilled workers. James highlighted the need to examine the way firms handle the transitions involved, in our project this relating to the way the work practices of accountants and lawyers change. In particular this raises questions about how firms can enable the transitions involved through training, support for learning in practice as part of day-to-day work and active management of the structures of teams and work relationships.
In the discussions an important debate developed about the need to focus on what working with AI will mean for careers and different generations of workers. In line with the focus of the Next Generation PSF project, it was highlighted that a ‘whole system’ approach is needed that considers the skills earlier careers workers have and need to develop through training, how more experienced workers will transition, and how new roles, tasks and contributions will emerge within occupations as AI fulfils certain roles and fees-up workers to add-value in other ways. It was agreed that trying to predict such changes is futile, and instead we need toolkits and approaches that help the process of change to be understood and managed effectively, by firms, workers, regulators and other stakeholders.
The Next Generation PSF project will be focussing on all of these issues in the forthcoming 24 months as we seek to develop a better understanding of how accounting and law firms can respond to the transitions associated with the growing role and potential of AI.
OECD Employment Outlook report available HERE
Posted 26th April 2019
Launching Next Generation Services
Following the announcement on 28 November 2018 from BEIS about funding for tech-driven legal and accounting boost productivity, we are delighted that the University of Sheffield led project was funded . Our project is primarily concerned with the human (i.e. non-technical) aspects of implementing new AI technologies in mid-size accounting and legal services firms. As well as analysing the potential barriers to adopting AI-based, the project is primarily concerned with harnessing the disruptive potential of AI and stimulating business model innovation for growth. With AI set to transform professional services world-leading legal services , our project is about supporting mid-market firms to design approached to strengthen their position in the market. The slides below provide an overview of the NextGenPSF project.
The other 2 projects funded were:
Professor Milne’s research will explore the implications for the insurance industry of this wave of new digital technologies, with the support of many of the UK’s leading insurance companies. They will identify and map the range of opportunities for AI based innovation in business processes and business models, across underwriting and risk analytics, claims processing and customer engagement. They will examine, through engagement with industry on business opportunities and challenges and through a range of case studies, the barriers to adoption and the enablers of change.
Professor Armour’s research will look into the use of AI in the legal system. His research seeks to identify how constraints on the implementation of AI in legal services can be relaxed to unlock its potential for good. As well as governing economic order, the legal system is more fundamentally a structure for social order. As a result the stakes for AI’s implementation in UK legal services are high. If mishandled, it could threaten both economic success and governance more generally.
Posted 11th January 2019